The Norwalk housing market is showing balanced conditions with stable prices and moderate inventory levels. The median home price of $350,000 represents a moderate 7.7% increase from this time last year. With 4.0 months of supply, Norwalk's inventory levels remain relatively tight. Homes are taking about 73 days to sell, which is -7 days longer than this time last year. A significant 24.8% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 11.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Norwalk market with the affordability index at 153.4. Based on current market indicators, home prices in Norwalk are projected to decrease by approximately 11.7% over the next month.